business succession Archives

The 3 Keys To Attracting Your Successors – and attract the talent

by Tony Vidler It is one thing to atract talent to your firm, it is quite another to attract successors with the right talent though. Many financial advisory firms see the need to create leverage and handle their own succession issues through recruiting new advisory talent but struggle to do it successfully. The main […]

The 6 Steps Of Succession Planning

by Tony Vidler Unless you plan to work to the grave all practice owners need to be thinking “succession planning” at some point – preferably as early as possible. Maybe right even from the beginning of your practice. Succession planning is simply about working out how to exit the business at your preferred […]

What you need to know if you buy to grow

by Tony Vidler As many advice businesses reach maturity it is common to consider whether they should “buy to grow”. Should they buy another practice, or more commonly, should just buy a book of business from another practice. The typical reasons suggested for wanting to grow through acquisition are: 1. Get new […]

Is Acquisition – or Merger – Worth It?

by Tony Vidler Many firms facing increased overheads and infrastructure costs in the next few years are considering acquisition or merger strategies as a survival or growth strategy. Generally there appears to be 5 main reasons that advisers suggest as their reasons for acquisition of another business. They are: 1. Get new […]

Which Clients To Keep; Which Ones To Fire

by Tony Vidler More clients is good, right? But when you have plenty of clients on the books the question becomes which clients to keep. Or which ones to get rid of. Actually, advisers should be constantly asking these questions regardless of how big their book of clients actually is. They are not questions […]

The 3 Barriers To Adviser Business Success

by Tony Vidler There are 3 distinct barriers every adviser must manage in their career if they want business success. I am defining “business success” as having more than a job. Success therefore is wanting their job to become their business. Each of the hurdles is a defining point which can see an adviser plateau […]

Successful Succession: Lay Out A Career Path

by Tony Vidler Succession planning is a major issue with an ageing adviser force, many of whom are wondering how to get their decades of accumulated equity out for their own retirement in the next 10 years. The most popular strategy for making that happen is find somebody who will come into the practice, learn […]

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Adviser Succession: What do buyers of financial practices look for?

by Tony Vidler The irony of adviser succession discussions is how few of the advisers considering the topic seem to consider how to get a better return on what is often their biggest investment – their practice. Sellers simply do not appear to think too deeply about what buyers will value and pay premium […]

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